Finance Archives - Page 2 of 2 -

Section 86, 87 and 88 of the 1999 Constitution: Appointment and Removal of the Auditor General of the Federation and Circumstances where the National Assembly can Direct Investigation

Posted on March 19, 2022by kivaonyi

The 1999 Constitution Section 86 (1) The Auditor-General for the Federation shall be appointed by the President on the recommendation of the Federal Civil Service Commission subject to confirmation by the Senate. (The Federal Civil Service Commission is responsible for recommending to the President who the Auditor General of the Federation will be but this…

Know Your Constitution

Section 84 and 85 of the 1999 Constitution: Salaries and Pension to be Paid from the Consolidated Revenue Fund and Creation of the Office of the Auditor General of the Federation

Posted on March 12, 2022by kivaonyi

The 1999 Constitution Section 84 (1) There shall be paid to the holders of the offices mentioned in this section such remuneration, salaries and allowances as may be prescribed by the National Assembly, but not exceeding the amount as shall have been determined by the Revenue Mobilization Allocation and Fiscal Commission. (The National Assembly may…

Know Your Constitution

Section 82 and 83 of the 1999 Constitution: Appropriation Bill and Supplementary Appropriation Bill

Posted on March 5, 2022by kivaonyi

The 1999 Constitution Section 82 If the Appropriation Bill in respect of any financial year has not been passed into law by the beginning of the financial year, the President may authorise the withdrawal of moneys in the Consolidated Revenue Fund of the Federation for the purpose of meeting expenditure necessary to carry on the…

Know Your Constitution

Section 80 and 81 of the 1999 Constitution: Consolidated Revenue Fund and Budget Bills

Posted on February 26, 2022by kivaonyi

The 1999 Constitution Section 80 (1) All revenues or other moneys raised or received by the Federation (not being revenues or other moneys payable under this Constitution or any Act of the National Assembly into any other public fund of the Federation established for a specific purpose) shall be paid into and form one Consolidated…

Banking Law

Legality or Otherwise of the Central Bank of Nigeria (CBN) Circular Prohibiting Cryptocurrency Trading

Posted on January 30, 2022by ezegabcgmailcom

Sometime in February, 2021, the Central Bank of Nigeria (CBN) pursuant to a CIRCULAR directed all banks to desist from transacting in and dealing with entities dealing in cryptocurrency. The CBN also directed banks to close accounts of persons or entities involved in cryptocurrency transactions within their systems. This directive as contained in a circular…

Banking Law Criminal Law

Wrongful Bank Transfer Vs. 419 (Fraud): Difference in Money Recovery?

Posted on October 24, 2021by iefemena

Entering a wrong digit when typing in bank details can instantly change the beneficiary. Same thing can apply when the correct digits are entered but the wrong bank is chosen. You can read more about mobile money and how is it governed here. While checking the beneficiary name can easily solve this, however as humans errors are sometimes unavoidable. Given the…

Land Law Property Law

Things to Know Before Taking Out a Mortgage

Posted on October 25, 2020by theNwachukwuUwakweJr.

This article seeks to let you know in a nutshell few important things before you consider taking out a mortgage. What is a Mortgage? A mortgage is simply a conveyance of land or assignment of chattel as a security for the repayment of a debt or discharge of other obligation for which it is given,…

Miscellaneous Laws

Procedures for Debt Recovery in Nigeria

Posted on November 16, 2019by iefemena

People are conducting business everyday and services are being continuously rendered. Money is in circulation around us and it is not uncommon for debt to arise where there is money in circulation. This could be as a result of failure to repay a loan or failure to pay for services rendered. What is Debt Recovery?…

Banking Law

What is Mobile Money and How is it Governed?

Posted on September 22, 2019by Eruke Onohwosa

We have all been hearing about mobile money, but do we know what it is really about or how it is governed? By the end of this article, you will understand what mobile money is, the bodies responsible for regulating mobile money, the participants of mobile money, its benefits and the laws by which it…